Hikma Pharma FY21 Profit Down, Lifts Dividend; Stock Down

Hikma Pharmaceuticals Plc. (HIK,HIK.L) reported Thursday that its fiscal 2021 profit attributable to shareholders dropped 2 percent to $421 million from last year's $431 million.

Basic earnings per share were 182.3 US cents, nearly same as last year's 182.6 US cents.

Core profit attributable was $450 million, compared to $408 million last year. Core basic earnings per share were 194.8 cents, compared to 172.9 cents last year.

Revenue grew 9 percent to $2.55 billion from last year's $2.34 billion. Revenue increased 7 percent on a constant currency basis, reflecting a good performance from all three businesses.

Further, the company announced full year dividend of 54 cents per share, up from 50 cents per share in 2020.

The company also announced a share buyback program of up to $300 million to be executed during 2022; as well as new target to reduce Hikma's greenhouse gas emissions by 25 percent by 2030.

Looking ahead for fiscal 2022, Injectables revenue growth is expected in the low to mid-single digits, with core operating margin in the range of 35 percent to 37 percent. Generics revenue would grow in the range of 8 percent to 10 percent and core operating margin in the range of 24 percent to 25 percent.

Separately, Hikma announced that Pamela Kirby has decided not to stand for re-election at the next annual general meeting that is scheduled to take place on April 25. Nina Henderson will take over as chair of the Remuneration Committee with effect from the end of the annual general meeting.

In London, Hikma shares were trading at 1,905.50 pence, down 5.34 percent.

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